Analysts Expect NOW Inc (DNOW) Will Post Earnings of $0.09 Per Share

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Analysts predict that NOW Inc (NYSE:DNOW) will report earnings of $0.09 per share for the current quarter, according to Zacks. Six analysts have made estimates for NOW’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.12. NOW reported earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 800%. The company is scheduled to issue its next earnings report before the market opens on Thursday, May 2nd.

According to Zacks, analysts expect that NOW will report full year earnings of $0.40 per share for the current year, with EPS estimates ranging from $0.30 to $0.52. For the next fiscal year, analysts expect that the business will report earnings of $0.59 per share, with EPS estimates ranging from $0.49 to $0.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow NOW.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, February 14th. The oil and gas company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $772.87 million. NOW had a return on equity of 3.24% and a net margin of 1.66%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 earnings per share.

A number of analysts have commented on DNOW shares. Zacks Investment Research upgraded NOW from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, January 8th. ValuEngine raised NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $15.40.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of NOW by 54.3% in the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock worth $26,000 after buying an additional 774 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of NOW by 1,090.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 501,882 shares of the oil and gas company’s stock worth $43,000 after buying an additional 459,739 shares during the period. First Hawaiian Bank raised its holdings in shares of NOW by 27.6% in the fourth quarter. First Hawaiian Bank now owns 6,581 shares of the oil and gas company’s stock worth $77,000 after buying an additional 1,425 shares during the period. Stone Ridge Asset Management LLC purchased a new stake in shares of NOW in the fourth quarter worth approximately $117,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of NOW in the fourth quarter worth approximately $128,000.

DNOW traded up $0.05 during midday trading on Tuesday, reaching $15.45. The company had a trading volume of 550,784 shares, compared to its average volume of 581,204. The company has a quick ratio of 1.40, a current ratio of 2.76 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 42.92 and a beta of 1.40. NOW has a 1 year low of $10.36 and a 1 year high of $18.56.

NOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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